By: Chris Mullen, Gold-Seeker.com - 20 March, 2015
Gold held near unchanged in Asia and London, but it then climbed to as high as $1187.83 in New York and ended with a gain of 1.1%. Silver surged to as high as $16.90 and ended with a gain of 3.72%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 March, 2015
New York closed at $1,170.30 barely changed on yesterday’s close. Asia has held it there too before London opened. Today is a historic day again because it sees the start of the new Fixing process. It does not have the Chinese banks as participants, which could prove a mistake. But they may be added later. This morning the first ever “LBMA gold price” was set at $1,171.75. Ahead of New York’s opening, gold was trading in London at $1,172.50 and in the euro at €1,094.57. Full Story
In July 2011, the dollar began to strengthen again and gold began to decline almost moving in lock-step. When the spike which pushed the dollar to its current bloated valuations began in July of last year gold began its steep decline – in dollar terms. However, Capital Economics chart shows that this inverted relationship between gold and the dollar broke down in November. The dollar soared from July to the present, spiking 21% against the other major currencies. Full Story
By: Chris Mullen, Gold-Seeker.com - 19 March, 2015
Gold edged up to $1175.68 in early Asian trade before it fell back to $1159.57 by a little after 8AM EST, but it then bounced back to $1172.72 by early afternoon in New York and ended with a loss of just 0.06%. Silver slipped to as low as $15.838 before it also rallied back higher and ended near its midday high of $16.17 with a gain of 0.44%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 March, 2015
New York closed at $1,171.00 up $22.50 with Asia taking it down to $1,168 before London opened. Today is a historic day as it sees the last gold and silver “Fixings”, a process that began in 1919. Tomorrow will see the twice daily LBMA Gold Price replacing it. Full Story
- Gold rose over 2% – Fed signals ultra loose monetary policies to continue - Fed dampens expectation of a rate hike in June - Yellen no longer “patient” – notes weakness in recent US economic data - Fed knows that fragile, debt laden U.S. economy cannot handle higher rates - Despite recent dollar strength, dollar vulnerable in long term - Sole reserve currency status threatened in currency wars Full Story
Impact on gold and silver after FOMC meet: Postponement of expected June interest rate hike to a later month can result in a temporary rise in gold and silver. Whether the rise will be sustainable will be dependent on the ability to break and trade over key immediate resistances of $1184 and $1636. Overall gold is bullish as long as it trades over $1138 and silver is bullish as long as it trades over $1475 for the rest of the month. Full Story
By: Chris Mullen, Gold-Seeker.com - 18 March, 2015
Gold edged down to $1146.27 in Asia before it bounced back to $1151.80 in London and then chopped back lower in early New York trade, but it then soared to as high as $1175.30 after today’s dovish fed statement and ended with a gain of 1.96%. Silver rose to as high as $16.051 and ended with a gain of 3.21%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 March, 2015
New York closed at $1,148.50 down $6.40 with Asia holding it there and then London fixing it at $1,149.00, down $5.75 and in the euro, at €1,080.497, down €7.03, while the euro was slightly better at $1.0634. Ahead of New York’s opening, gold was trading in London at $1,151.00 and in the euro at €1,084.21. Full Story
- Gold price set to soar to new records in ‘Asian century’ - Gold price to double by 2030: ANZ - Gold to exceed $2,400 per ounce - Gold demand in Asia set to double - “Greater demand from investors and central banks will see gold prices rise materially over the long-term” - “Most of the time you don’t want to pay for it. But if you need it, you’re glad you have it” Full Story
By: Chris Mullen, Gold-Seeker.com - 17 March, 2015
Gold held near unchanged in Asia and London before it dropped down to $1142.69 in early New York trade and then spiked back up to $1158.91 by a little before 10AM EST, but it then drifted back lower into the close and ended with a loss of 0.55%. Silver slipped to as low as $15.392 before it bounced back to $15.725, but it too drifted back lower in the last 6 hours of trade and ended with a loss of 0.58%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 March, 2015
New York closed at $1,154.90 down $0.30 with Asia holding it there as did London ahead of the Fixing. The euro stood in New York at $1.06. At the Fix gold was set at $1,154.75 down $2.25 and in the euro, at €1,087.540 down €10.131, while the euro was at $1.0618 up three quarters of a cent. Ahead of New York’s opening, gold was trading in London at $1,155.00 and in the euro at €1,088.95. Full Story
Investor sentiment towards gold and silver is hyper negative. They believe that they are the worst form of short term investment. They are not making any short term investment in gold and silver. However I believe that gold and silver need to be looked at from at least a two year period and then invest. If gold is able to give a higher return over US bond yields (which it is not at the moment), then gold will always be a better investment than US bond yields. The long term fundamentals of silver are a thousand times better than gold. Silver will zoom only when fundamental demand forces a massive short squeeze. Full Story
By: Chris Mullen, Gold-Seeker.com - 16 March, 2015
Gold gained $8.56 to $1163.76 in Asia before it fell back to $1150.49 in late morning New York trade, but it then bounced back higher into the close and ended with a loss of just 0.026%. Silver rose to as high as $15.778 before it dropped back to $15.514, but it still ended with a gain of 0.51%. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 16 March, 2015
New York closed at $1,155.20 up $1.90 with Asia taking it up to $1,162 at the start of the week. The euro was holding closing levels in New York at $1.05. London took it back to $1,158 ahead of the Fix where it was set at $1,157.00 up $0.50 and in the euro, at €1,097.671 up €6.427, while the euro was at $1.0540 down almost half a cent. Ahead of New York’s opening, gold was trading in London at $1,157.00 and in the euro at €1,098.71. Full Story
The Minister for Finance in Ireland, Michael Noonan, sold his shares in funds that track European and US stocks and diversified his portfolio including allocating some of his personal wealth into a gold exchange traded fund (ETF) in 2014. Noonan sold out of his positions in the Lyxor Eurostoxx 50 ETF and SPDR DJIA ETF in 2014 and opted to invest in the SPDR gold shares ETF and Portuguese government bonds. He maintained his holdings in SPDR KBW Banks ETF, Ishares FTSE 100 ETF, Market Vectors Agri Business ETF, ETFS Agricultural Commodities ETF. Full Story
This is a Federal Reserve week. It all depends on whether it is comfortable with a stronger US dollar or not. The Federal Reserve statement will also tell us the US dollar policy. What is already factored in by the markets: (a) A June interest rate hike and (b) A change in the policy statement to a much more aggressive interest rate hike stance. If these are not then there will be short covering in commodities and also profit taking in the US dollar. Full Story
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